The CSL Limited (ASX: CSL) share price is starting the week in the red.
At the time of writing, the biotherapeutics giant's shares are down 1.5% to $276.17.
Why is the CSL share price falling?
The weakness in the CSL share price today has been driven by a broad market selloff following a very poor finish to the week on Wall Street.
Unfortunately, this has offset any positives from the company's briefing on its new CSL Vifor business.
In respect to its briefing, this morning CSL outlined the market opportunities that this newly acquired business has.
CSL Vifor's massive market opportunities
CSL highlights that iron deficiency (ID) is a massive market. In fact, it estimates that there are over 3 billion people suffering from ID and around 1.2 billion people suffering from iron deficiency anaemia (IDA). This gives its Ferinject therapy a major market opportunity.
Management also notes that the renal disease market is expected to grow from US$13 billion in 2020 to US$25 billion in 2026.
Furthermore, it highlights that Chronic Kidney Disease (CKD) is a leading cause of mortality and morbidity around the world. In the United States, approximately 15% of adults suffer from CKD. Despite this, there is a "significant lack of access to therapies to support CKD patients."
Overall, this gives the CSL Vifor business a major growth opportunity over the long term, which will be supported by its strong product portfolio and ongoing investment in research and development.
CSL guidance for FY 2023
As expected, management has now revealed its guidance for FY 2023 including the CSL Vifor business.
CSL was previously guiding to constant currency net profit after tax of US$2.4 billion to US$2.5 billion excluding Vifor Pharma.
Including an 11-month contribution from the business, it expects net profit after tax before amortisation (NPATA) of US$2.7 billion to US$2.8 billion. This represents annual constant currency growth of 13% to 18%.
